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Gold isn't free to transport. Bitcoin shouldn't aim to be either. We don't want starbucks transactions in the same database as people saving for their pension.
by drcross 6y ago
Gold isn't free to transport. Bitcoin shouldn't aim to be either. We don't want starbucks transactions in the same database as people saving for their pension. If you're transporting large amounts of money (digital gold) scaling isn't an issue.
- webinvest 6y agoBitcoin has a hard limit of 4.6 transactions per second. Gold doesn’t. As Bitcoin becomes more popular, it becomes more expensive to transact as everyone bids up the transaction price. Many people with small balances in their wallet will see their entire wallet balance become illiquid because the fees will be higher than their entire investment. Eventually we could see institutions and brokerages being the main coin holders because if it costs $1000- $10000 per transaction, it only makes sense to do so in $500k+ transactions. Last time Bitcoin was $19000/ea, it cost me $180 to move the coins from one wallet to another.